MIRA INFORM REPORT

 

 

Report Date :

09.02.2013

 

IDENTIFICATION DETAILS

 

Name :

ZEN CHEMICALS CO LTD

 

 

Registered Office :

Zen Bldg, 2-30-2 Taito Taitoku Tokyo 110-0016

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2012

 

 

Date of Incorporation :

February, 1978

 

 

Com. Reg. No.:

0105-01-016709

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of industrial chemicals

 

 

No. of Employees :

14

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

COMPANY NAME

 

ZEN CHEMICALS CO LTD

 

 

REGD NAME    

 

Zen Chemical KK

 

 

MAIN OFFICE

 

Zen Bldg, 2-30-2 Taito Taitoku Tokyo 110-0016 JAPAN

Tel: 03-3839-5861      Fax: 03-3839-5877

 

URL:                 Error! Hyperlink reference not valid.

E-Mail address: info@zenchem.com

 

 

ACTIVITIES     

 

Import, export, wholesale of industrial chemicals

 

 

BRANCHES     

 

Osaka

 

 

OFFICERS       

 

JUN MAKINO, PRES

Michiyuki Hisamoto, mgn dir      

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY       

 

FINANCES        FAIR                             A/SALES          Yen 2,958 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 218 M

STARTED         1978                             EMPLOYES      14

 

 

COMMENT       

 

TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS .

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 39.4 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Jun Makino in order to make most of his experience in the subject line of business.  This is a trading firm for import, export and wholesale of industrial chemicals, food additives, health foods, other (See OPERATIONS).  Clients are chemical industries.

 

 

FINANCIAL INFORMATION

           

The sales volume for Jul/2012 fiscal term amounted to Yen 2,958 million, an 18% down from Yen 3,587 million in the previous term.  Exports were hurt by the high yen, reducing revenues and profits in Yen terms.  The recurring profit was posted at Yen 12 million and the net profit at Yen 9 million, respectively, compared with Yen 28 million recurring profit and Yen 16 million net profit, respectively, a year ago.

 

For the current term ending Jul 2013 the recurring profit is projected at Yen 13 million and the net profit at Yen 10 million, respectively, on a 3% rise in turnover, to Yen 3,050 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 39.4 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:                       Feb 1978

Regd No.:                                             0105-01-016709 (Tokyo-Taitoku)

Legal Status:                           Limited Company (Kabushiki Kaisha)

Authorized:                              80,000 shares

Issued:                                     20,000 shares

Sum:                                        Yen 10 million

Major shareholders (%):           Jun Makino (32.5), Michiyuki Hisamoto (11.2), Yasuharu Makino (10), Yoneyama Chemical Ind (10), Masao Kusunoki (6.3)

No. of shareholders:                7

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Imports, exports and wholesales: inorganic & organic chemicals, metal plating chemicals, high performance chemicals, electronics, food additives, synthetic resins, health foods, others (--100%)

 

Clients: [Mfrs, wholesalers] Yoneyama Chemical Ind, Rasa Ind, Matsumoto Yushi Seiyaku Co, Mitsui Chemical, Ishihara Chemical, Kamimura Ind, Nihon Parkerizing Co, Kaneka Corp, Sakai Chemical Ind, other 

            No. of accounts: 300

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Mitsui Chemical, Yoneyama Chemical Ind, Rasa Ind, Adeka, Chori Corp, Mitsui Bussan Chemicals, Mitsui Fine Chemical Inc, Nihon Kolmar Co, other

 

Payment record: No Complaints

 

Location: Business area in Tokyo.  Office premises at the caption address are owned and maintained satisfactorily.

Bank References:

Resona Bank (Kanda)

MUFG (Kanda-Ekimae)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

31/07/2013

31/07/2012

31/07/2011

31/07/2010

Annual Sales

　

3,050

2,958

3,587

2,890

Recur. Profit

　

13

12

28

　

Net Profit

　

10

9

16

10

Total Assets

　

　

1,314

1,496

1,065

Current Assets

　

　

793

851

　

Current Liabs

　

　

422

453

　

Net Worth

　

　

218

208

193

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.11

-17.54

24.12

3.44

    Current Ratio

 

..

187.91

187.86

..

    N.Worth Ratio

..

16.59

13.90

18.12

    R.Profit/Sales

 

0.43

0.41

0.78

..

    N.Profit/Sales

0.33

0.30

0.45

0.35

    Return On Equity

..

4.13

7.69

5.18

 

Notes: Forecast (or estimated) figures for the 31/07/2013 fiscal term.

           

 

 

 

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.